Analyzing Inventory Data in Excel

Objective:

Learn how to analyze inventory data and track stock on a daily, weekly, or monthly basis using Excel, by building a master inventory history log.

Key Steps:

1. Create Master Inventory Log:

   • Copy master inventory tab to create a history log.
   • Add "Date" and "Week Number" columns.

2. Setting Up Macro:

   • Save Excel file as a macro-enabled workbook.
   • Use VBA editor to create a macro called "Log Inventory".
   • Macro captures inventory snapshot with the current date.

3. Adding Button for Macro:

   • Insert button labeled "Log Inventory".
   • Assign the created macro to this button.

4. Use Formula for Weekly Tracking:

   • Utilize WEEKNUM formula to determine week number.

5. Populate Inventory History Log:

   • Fill data to enhance dashboard and analysis.

6. Create Pivot Tables:

   • Insert pivot tables for daily, weekly, and monthly tracking.
   • Arrange data by date, week number, and month.

7. Dashboard Setup:

   • Name sheets for daily, weekly, and monthly pivot tables.
   • Insert charts for each time period.
   • Move charts to the dashboard tab.

8. Further Analysis with Slicers and Timelines:

   • Add slicers for inventory filter.
   • Insert timeline for date filtering on charts.

9. Refreshing Data:

   • Refresh all pivot tables after logging new inventory data for updates on the dashboard.

Outcome:

Users can effectively monitor inventory changes, identify trends, and make informed decisions using a comprehensive Excel management system.

Resources:

• Visit SharonSmithHR.com for additional templates and details.
• Check out related videos on the channel for more insights.

Call to Action:

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This guide provides a step-by-step process for setting up an inventory management system and dashboard in Excel, utilizing macros and pivot tables for detailed analysis.